New York

Sotheby's (a British-founded American multinational corporation with headquarters in New York City) is preparing to auction off a rare, strikingly rosy-purple diamond known as the 'Eternal Pink', which is valued at $35 million, as part of its Magnificent Jewels sale in New York in June. 

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With the highest pre-auction price per carat estimate ever, Sotheby's is promoting the 10.57-carat stone as the most priceless purplish-pink diamond ever brought to auction.

"Its refined lines combined with the intensity of its colour earn it a place as one of the world's most extraordinary gems," Tom Moses, executive vice president and chief laboratory and research officer at the Gemological Institute of America said of the cushion-cut diamond to AFP. 

The stone was mined in Botswana, and Sotheby's claims that because of its clarity and lack of flaws, it is "comparable to ultimate masterpieces of art — far rarer than a Magritte or a Warhol." 

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With their rarity and high demand, pink diamonds are among the finest jewels and are highly prized by investors. 

The CTF Pink Star, which was sold in 2017 for $71.2 million in Hong Kong, now holds the record for the highest auction price ever for a stone of its kind. 

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The record for the highest price per carat is held by the Williamson Pink Star diamond, which sold for $57.7 million in 2022, also in Hong Kong, and brought in approximately $5.2 million.

The Eternal Pink was formed from a raw diamond that was unearthed in 2019 and weighed 23.87 carats, more than twice as much as the finished stone. The current shape of the stone was achieved over the course of six months by diamond company Diacore, as reported by CNN. 

(With inputs from agencies)

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